Mathematics for Business

by Salzman, Stanley A.; Miller, Charles D.; Clendenen, Gary

• ISBN13: 9780321357434
• ISBN10: 0321357434
• Edition: 8th
• Format: Hardcover
• Copyright: 2007-01-01
• Publisher: Addison Wesley

Summary

The Eighth Edition of Mathematics for Business continues to provide solid, practical, and current coverage of the mathematical topics students must master to succeed in business today. The text begins with a review of basic mathematics and goes on to introduce key business topics in an algebra-based context.

Table of Contents

Preface	p. ix
Index of Applications	p. xv
Photograph Credits	p. xxii
Introduction for Students	p. xxiii
Pretest in Business Mathematics	p. xxiv
Basic Mathematics
Problem Solving and Operations with Fractions	p. 1
Problem Solving	p. 2
Addition and Subtraction of Fractions	p. 8
Multiplication and Division of Fractions	p. 22
Chapter 1 Quick Review	p. 34
Chapter 1 Review Exercises	p. 37
Chapter 1 Summary Exercise	p. 39
'Net Assets	p. 41
Equations and Formulas	p. 42
Solving Equations	p. 43
Applications of Equations	p. 50
Formulas	p. 57
Ratios and Proportions	p. 64
Chapter 2 Quick Review	p. 72
Chapter 2 Review Exercises	p. 74
Chapter 2 Summary Exercise	p. 76
'Net Assets	p. 77
Percent	p. 78
Writing Decimals and Fractions as Percents	p. 79
Finding the Part	p. 85
Finding the Base	p. 92
Supplementary Exercises: Base and Part	p. 97
Finding the Rate	p. 98
Supplementary Exercises: Rate, Base, and Part	p. 105
Increase and Decrease Problems	p. 107
Chapter 3 Quick Review	p. 115
Chapter 3 Review Exercises	p. 117
Chapter 3 Summary Exercise	p. 120
'Net Assets	p. 121
Part 1 Cumulative Review, Chapters 1-3	p. 122
Basic Business Applications
Banking Services	p. 125
Checking Accounts and Check Registers	p. 126
Checking Services and Depositing Credit Card Transactions	p. 138
Reconciliation	p. 143
Chapter 4 Quick Review	p. 153
Chapter 4 Review Exercises	p. 154
Chapter 4 Summary Exercise	p. 156
'Net Assets	p. 157
Payroll	p. 158
Gross Earnings (Wages and Salaries)	p. 159
Gross Earnings (Commission)	p. 171
Gross Earnings (Piecework)	p. 178
Social Security, Medicare, and Other Taxes	p. 185
Income Tax Withholding	p. 192
Payroll Records and Quarterly Returns	p. 204
Chapter 5 Quick Review	p. 211
Chapter 5 Review Exercises	p. 214
Chapter 5 Summary Exercise	p. 217
'Net Assets	p. 219
Taxes	p. 220
Sales Tax	p. 221
Property Tax	p. 227
Personal Income Tax	p. 235
Chapter 6 Quick Review	p. 251
Chapter 6 Review Exercises	p. 253
Chapter 6 Summary Exercise	p. 256
'Net Assets	p. 257
Risk Management	p. 258
Business Insurance	p. 259
Motor Vehicle Insurance	p. 270
Life Insurance	p. 279
Chapter 7 Quick Review	p. 293
Chapter 7 Review Exercises	p. 296
Chapter 7 Summary Exercise	p. 298
'Net Assets	p. 299
Part 2 Cumulative Review, Chapters 4-7	p. 300
Mathematics of Retailing
Mathematics of Buying	p. 302
Invoices and Trade Discounts	p. 303
Single Discount Equivalents	p. 313
Cash Discounts: Ordinary Dating Method	p. 318
Cash Discounts: Other Dating Methods	p. 326
Chapter 8 Quick Review	p. 334
Chapter 8 Review Exercises	p. 337
Chapter 8 Summary Exercise	p. 338
'Net Assets	p. 339
Markup	p. 340
Markup on Cost	p. 341
Markup on Selling Price	p. 347
Markup with Spoilage	p. 357
Supplementary Exercises: Markup	p. 364
Chapter 9 Quick Review	p. 364
Chapter 9 Review Exercises	p. 366
Chapter 9 Summary Exercise	p. 368
'Net Assets	p. 369
Markdown and Inventory Control	p. 370
Markdown	p. 371
Average Inventory and Inventory Turnover	p. 378
Valuation of Inventory	p. 383
Chapter 10 Quick Review	p. 394
Chapter 10 Review Exercises	p. 396
Chapter 10 Summary Exercise	p. 398
'Net Assets	p. 399
Part 3 Cumulative Review, Chapters 8-10	p. 400
Mathematics of Finance
Simple Interest	p. 403
Basics of Simple Interest	p. 404
Simple Interest for a Given Number of Days	p. 410
Maturity Value	p. 417
Inflation and the Time Value of Money	p. 424
Chapter 11 Quick Review	p. 433
Chapter 11 Review Exercises	p. 437
Chapter 11 Summary Exercise	p. 440
'Net Assets	p. 441
Notes and Bank Discount	p. 442
Simple Interest Notes	p. 443
Simple Discount Notes	p. 450
Comparing Simple Interest and Simple Discount	p. 460
Discounting a Note	p. 464
Chapter 12 Quick Review	p. 471
Chapter 12 Review Exercises	p. 474
Chapter 12 Summary Exercise	p. 477
'Net Assets	p. 479
Compound Interest	p. 480
Compound Interest	p. 481
Daily and Continuous Compounding	p. 491
Finding Time and Rate	p. 502
Present Value at Compound Interest	p. 507
Chapter 13 Quick Review	p. 512
Chapter 13 Review Exercises	p. 515
Chapter 13 Summary Exercise	p. 517
'Net Assets	p. 519
Annuities and Sinking Funds	p. 520
Amount of an Annuity	p. 520
Present Value of an Annuity	p. 533
Sinking Funds	p. 540
Chapter 14 Quick Review	p. 547
Chapter 14 Review Exercises	p. 550
Chapter 14 Summary Exercise	p. 552
'Net Assets	p. 553
Business and Consumer Loans	p. 554
Open-End Credit	p. 555
Installment Loans	p. 564
Early Payoffs of Loans	p. 574
Personal Property Loans	p. 582
Real Estate Loans	p. 589
Chapter 15 Quick Review	p. 598
Chapter 15 Review Exercises	p. 602
Chapter 15 Summary Exercise	p. 604
'Net Assets	p. 607
Part 4 Cumulative Review, Chapters 11-15	p. 608
Accounting and Other Applications
Depreciation	p. 611
Straight-Line Method	p. 612
Declining-Balance Method	p. 618
Sum-of-the-Years'-Digits Method	p. 625
Units-of-Production Method and Partial-Year Depreciation	p. 632
Modified Accelerated Cost Recovery System	p. 640
Chapter 16 Quick Review	p. 648
Chapter 16 Review Exercises	p. 650
Chapter 16 Summary Exercise	p. 652
'Net Assets	p. 653
Financial Statements and Ratios	p. 654
The Income Statement	p. 655
Analyzing the Income Statement	p. 661
The Balance Sheet	p. 669
Analyzing the Balance Sheet; Financial Ratios	p. 675
Chapter 17 Quick Review	p. 686
Chapter 17 Review Exercises	p. 689
Chapter 17 Summary Exercise	p. 693
'Net Assets	p. 695
Securities and Distribution of Profit and Overhead	p. 696
Distribution of Profits in a Corporation	p. 697
Buying Stock	p. 703
Bonds	p. 714
Distribution of Profits and Losses in a Partnership	p. 719
Distribution of Overhead	p. 726
Chapter 18 Quick Review	p. 733
Chapter 18 Review Exercises	p. 737
Chapter 18 Summary Exercise	p. 739
'Net Assets	p. 741
Business Statistics	p. 742
Frequency Distributions and Graphs	p. 742
The Mean	p. 753
The Median and the Mode	p. 761
Range and Standard Deviation	p. 767
Index Numbers	p. 774
Chapter 19 Quick Review	p. 777
Chapter 19 Review Exercises	p. 782
Chapter 19 Summary Exercise	p. 786
'Net Assets	p. 787
Part 5 Cumulative Review, Chapters 16-19	p. 788
Calculator Basics	p. 794
Scientific Calculators	p. 795
Financial Calculators	p. 805
The Metric System	p. 813
Powers of e	p. 819
Interest Tables	p. 821
Answers to Selected Exercises	p. 850
Glossary	p. 879
Index	p. 893
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